Crypto News- Coinbase International Exchange has achieved a significant milestone by securing regulatory approval from Bermuda’s financial regulator, the Bermuda Monetary Authority (BMA). This achievement marks a noteworthy step forward for the company, opening the door for eligible non-US retail customers to soon participate in perpetual futures trading on the Coinbase Advanced platform.
Coinbase’s Global Ambitions: Regulatory Clearance for Perpetual Futures Trading Outside the US
The company’s ambitions for global expansion came into focus earlier this year when it unveiled its international exchange initiative in May. Subsequently, Coinbase has taken steps to strengthen its offerings by introducing perpetual futures contracts for Bitcoin (BTC) and Ethereum (ETH).
Perpetual futures, situated within the realm of derivative markets, distinguish themselves by operating continuously, free from predefined expiration dates. This feature provides traders with a dynamic and uninterrupted trading environment, fostering flexibility in their strategies.
In a recent blog post, Coinbase reaffirmed its dedication to a global expansion strategy, emphasizing, “As announced in Phase II of our ‘Go Broad, Go Deep’ strategy, we are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework that allows crypto technology to continually drive innovation.”
This regulatory green light from Bermuda’s financial authority is in harmony with Coinbase’s overarching mission: to furnish a secure and compliant platform for cryptocurrency trading. It solidifies the company’s presence in the global cryptocurrency market, reaffirming its commitment to providing a regulated and trustworthy environment for traders and investors alike.
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